reaffirming debt

[kimsch72]

What is the name of your state? south carolina

this is a repeat question. i never recieved a reply. we have filed ch7 pro se. we wanted to reafirrm our new vehicle that we had gotten but the creditor says we cant because the loan is still too new. they said that because of the automatic stay they can not touch the vehicle right now. they said that if we continue to make payments on time and do not default on the loan they can not take the vehicle back. if we do not reaffirm the debt can we keep it if we continue to make payments on the vehicle or can they come at any time and take the vehicle. they had also told us that they will continue to report it in good standing on our credit. i am a little nervous since i am not sure if they can take the vehicle any time they want if we dont reaffirm it. thanks for your help.

 

[Ladynred]

I don't buy the part about not being able to reaffirm due to the 'newness' of a loan, sounds fishy to me. However, the creditor is right, as long as you keep making payments they'll let you keep the car whether you reaffirm or not. Reaffirmations are a 3-way agreement - you, the lender, and the judge. If the judge says no, then there's no reaff anyway.

In SC you do not HAVE to reaffirm to keep secured property and its generally a good idea NOT to reaffirm if you aren't required to.